Operating costs

[Mooney1401]

Just looking to see what other mooney owners plan for an operating cost. I have a 77 M20J

[ChristianGodin]

I have the same airplane 77J. I don't plan. I just make a check when I have to. Approx, Insurance is 1900$, annual 2500$, miscelanious repair every year 2000$ plus gaz. No reserve for engine or big repair. Engine has 250 hours since overall, instrument has been updated and the paint is one year old. I am flying approx. 100 hours per year.

[PTK]

Mooney1401, AOPA has ownership cost calculation resources you may find useful. This is probably all you need:

http://www.aopa.org/apps/iforms/opcosts/OpCostsInstructions.cfm

[N201MKTurbo]

When I was flying every day my operation cost was about $60/hr now that I don't fly as much it has gone up to about 130/hr

[Mooney1401]

I am looking at selli g some block time and was thinking around $115 per hour. Want to be fair but also make sure my costs are all covered

[bnicolette]

I am looking at selli g some block time and was thinking around $115 per hour. Want to be fair but also make sure my costs are all covered

I personally think,that is way too,cheap. There was also a great calculator in a past issue of The Mooney Flyer. Sent from my iPad using Tapatalk HD

[aaronk25]

Ok because of the long cam guard thread I couldn't help myself......If you run cam guard maybe you could cut your engine operating cost in 1/2 :) ........sorry couldn't help it

[gregwatts]

I am looking at selli g some block time and was thinking around $115 per hour. Want to be fair but also make sure my costs are all covered

 

 

Wet or Dry? The cost per hour changes depending on how many hours the plane is flown. My local flight school rents out a 201 for $180 per hr, wet. Being a leaseback, that probably gives the school $20 per hr.

I suggest that you really research the risk and your insurance policy. Nobody will fly your plane with the same care and consideration that you do!

[jetdriven]

Excluding all recurring monthly expenses (tiedown, annual, insurance, etc) it costs around 30$ an hour for the plane plus gas, which is 50$ or so, or 80$ per hour in total.  Our fixed expenses are around 6 grand a year, so divide that up by the number of hours. I agree with Brett.  115$ an hour is too cheap. There is a school here that rents a Bonanza, and its 300$ an hour wet.  A M20J is probably worth around 185$ an hour wet, fair market value.

[Mooney1401]

Thanks for the information. It would be 115 dry and any extra cost to my insurance would be up to them to pay.

[jetdriven]

Thats probably fair, but be super sure and verify he is covered in his operation.

[ALP]

Local school here rents a M20J for $197 wet.

[BigTex]

The rate is obvious.... Should be $201.

[AndyFromCB]

My Bravo has 3500 hours on it or so, 150 of it under my command. After writing some major checks for firewall forward overhaul and then the first annual that came to a tune of $21,000 and going over the logs and invoices, I can honestly say that all and all, a Bravo costs $80 an hour for maintenance, $114 for fuel (19gph at $6 per gallon, that includes climb, I cruise around 16-17gph), my fixed costs are the following:

-1560 for hangar

-1800 for insurance

-1400 for subscriptions to data, plates and XM

-2500 for annual inspection

$7260 and I fly this airplane around 150 hours a year so a grand total of $240 dollars per hour not including capital costs or about $1.20 per NM.

I'd say $115 per hour is too low for a M20J.

[PTK]

Should also take into consideration the avionics equipment in the airplane? Are these numbers thrown around for an average equipped 201? Even so I agree with Brett and Byron, 115$ sounds way too low imho. I personally would be in the 250$ range, dry. Fuel and insurance on them. I also think you should consider ground time. What if, hypothetically, someone rents it and takes it on a two hour flight and sits there for a week before returning. You have no use of your airplane during that time and you only got paid for four hours. What is that limitation worth to you?

Also check and be double sure of your insurance stipulations. Get all the documentation they require and be clear and certain of the coverages.

[carusoam]

Interesting challenge...

We agree somewhat on the cost of operation and what it entails...

But does the market support that price?

In other words, does that Mooney get rented $197?

Best regards,

-a-

[PTK]

Well, Anthony that's a very good question. A Skyhawk 172 rents for ~160$ and a Cirrus for 200$ and above. Theoretically then a well equipped Mooney 201 should not have a problem renting in the mid 200's. I say theoretically because I think the pool of renters for a Mooney is a lot smaller. Even if checked out in the Mooney they may not be current in it and therefore be reluctant to rent it and put their family or pax in it.

[carusoam]

I see the logistics of training and insurance being the initial challenge then.... An individual would need 10 hours or so before being able to rent it and solo and possibly more to take passengers.

So at $201/hr the individual is into $2k to $3k for 10 to 15 hrs + instructor fees to get checked out. Another $1k for insurance for low mooney experience above the regular insurance payment. Probably $5k, all in, to be qualified to rent the plane solo...?

It makes sense to me to rent if the plane was close to home. This makes a happy flying club...

I got checked out in a Kkatana back in the day. It was on lease back then it disappeared after my checkout. It was slightly nicer than the 152 and cost slightly more...

Apparently the costs were higher than the owner expected and the market wasn't big enough.

Best regards,

-a-

[PTK]

I wouldn't rent my airplane though. But if you Anthony, or you Cris are ever in a jam and want to borrow it, you got it! It's all yours for the asking, anytime!

[jnisley]

It costs us between $125-145 per hour depending on hours per year flown. (usually 70-100 hours per year)

Our fixed costs plus "normal repairs", average $6000-7000 (insurance, nav/weather subscriptions, annual, hanger expenses (we own hanger but lease ground it's built on for $450 per year)

I would love to rent a decently equipped M20J for $115 per hour

[aviatoreb]

I have the same airplane 77J. I don't plan. I just make a check when I have to. 

 

Me too.  I enjoy it much more that way.  I just close my eyes and write checks when I need to.  If I compute how much it costs per hour I think I would enjoy it less.

[RJBrown]

I had to get my BFR/ICP while the Mooney was getting the engine done. Rent on a 172 from Aspen ranged from 99 to 144 with 99 being an avionics free beater to a recent and loaded glass panel plane at 144. Around $200 wet is my guess. If I could rent a 201 for $115 it would be WAY cheaper than owning. Flying 100hrs ayear costs me about $140 per hour to operate. No capital cost included, plane is paid for.

[Joe Zuffoletto]

I have a spreadsheet that I created to figure this out and I feel it's pretty accurate. Didn't know about the AOPA calculator so I tried it out. I fly about 80 hours per year. My spreadsheet spits out $310/hour and AOPA says $315/hour. Pretty darn close.

[M016576]

Hangar- 125 / mo x 12

Insurance - 1203.00 / yr

Gas-5.60 gal x 10gph x 100hrs

Annual- 1200

= $9503.00 yr / 100 hrs = $95.03 / hr

Throw in about 500 bucks more a year for oil/random maintenance and I'm at about 100 /hr.

Of course, that doesn't count the $17500 I paid for an overhaul 6 months ago....

[schule]

Hangar - $5100/yr (out of the way) - $9600 (in town) --- Tie downs in snow $450/yr

Insurance - $2800/yr ($1M/$300k)

100LL - $5.65/gal @ 8.5 gph

Annual - $3000

Garmin Americas Updates - $550

US CBP Sticker - $30

Biennial Taxes - $70

Sales Tax - $0

100 Hour Inspection - $1000

WingX - $200

DIY Oil Changes - $100 ea.

Misc MX/Cleaning - $750

 

130 hours last year cost around $20k plus upgrades --- $155/hr

 

Flying in Alaska without TSA probing - Priceless

 

-Mark